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Oil Services Stocks Roar Higher



January 26, 2011 – Comments (0)

All of the oil services stocks are surging higher today. All a trader has to do today is simply take a look at the Oil Services Holders Trust(NYSE:OIH). The OIH is trading higher today by $6.84 cents making a new 52 week high for the EFT.

Some of the major components in the Oil Services Holders Trust are Baker Hughes Inc.(NYSE:BHI), Halliburton Co.(NYSE:HAL), and Schlumberger Ltd.(NYSE:SLB). All of these stocks are trading sharply higher today. While the group looks strong today it is important to note that Baker Hughes stock is starting to get extended on the daily chart and should face some near term daily resistance around the $67.50 level.

Nicholas Santiago

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